Washington Asset Building Coalition

Nonprofit profile at a glance

EIN
271406157
IRS 990 coverage
2016–2023
Forms available
Form 990 2023, Form 990-EZ 2020, Form 990-T 2020
Location
Bellevue, WA, USA
Phone
2068983043
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Financial Counseling

Official website

Reported finances

Revenue
$70,340
Expenses
$48,198
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Todd Pietzch (President)

Highest reported compensation

  • RYAN DAVIS (Executive Dir.): $30,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide opportunities for low and moderate-income residents in Washington to build, maintain, and preserve assets through investments in education, home ownership, personal savings, and entrepreneurship.

What it reported doing in 2023

Wabc is the lead organization in Washington state for promoting policies, programs and strategies for helping low income individuals and communities build assets that will provide them with an economic foundation to move into the middle class. To accomplish this mission, in 2023 wabc served as the convener for the 15 local asset building coalitions in Washington state, facilitating quarterly meetings, topical trainings as needed and providing technical assistance on savings programs for low-income individuals, child savings accounts, retirement savings and financial education. Wabc worked extensively on promoting the establishment of a statewide retirement savings system for lower-income and first-time workers as well as promotion and education around the proposed Washington futures fund.

Operating model

Revenue model
Grant-funded. 93% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 40
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 58.2%; rating input score 58
  • Program expense ratio: 85%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 31.5%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 62.2%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: -17.5% per year; rating input score 0; 20th percentile among comparable filings
  • Revenue growth: 5% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: -13.7% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 58.2% of revenue deployed · 85% of spending went to programs
  • Governance: 4 of 4 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $41K in reported program spending
  • Leadership: top reported pay $30K · 5 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 3 filing years from 2016 to 2023
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 58/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.